Business
Gorilla Technology Dismisses Misinformation, Confirms Intention to Acquire Shares by Company and Insiders
London, United Kingdom--(Newsfile Corp. - March 24, 2025) - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company") issued a press statement."Gorilla Technology will not engage with baseless allegations spread by individuals charged by multiple authorities with fraud and market manipulation. Given the multiple charges filed by both the U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice (DOJ) against those behind these claims, their credibility is h
About this update from Gorilla Technology Group Inc.
[{"type":"text","content":"London, United Kingdom--(Newsfile Corp. - March 24, 2025) - Gorilla Technology Group Inc. (NASDAQ: GRRR) ("Gorilla" or the "Company") issued a press statement.","length":179,"tagName":"p"},{"type":"text","content":""Gorilla Technology will not engage with baseless allegations spread by individuals charged by multiple authorities with fraud and market manipulation. Given the multiple charges filed by both the U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice (DOJ) against those behind these claims, their credibility is highly questionable. Our legal counsels across multiple jurisdictions are currently engaged in this matter. We will let our results and our business strategy speak for themselves," said Jay Chandan, Chairman & CEO of Gorilla Technology.","length":590,"tagName":"p"},{"type":"text","content":"Given the fall in the Company's share price in connection with recent short selling, Gorilla's Board of Directors once again believes the shares to be deeply undervalued. Therefore, the Company will utilize funds remaining under its previously announced share buyback programme following the release of its 2024 earnings statement if the share price continues to fail to reflect what the Board sees as the Company's intrinsic value.","length":444,"tagName":"p"},{"type":"text","content":"In addition, it is the intent of a large portion of the Board and the entire executive management team to acquire shares following the Company's earnings release. Jay Chandan added, "We believe in this company, in our vision and in the undeniable momentum we have built. The market will eventually catch up and we are putting our money where our conviction is."","length":375,"tagName":"p"},{"type":"text","content":"About Gorilla Technology Group Inc.","length":35,"tagName":"p"},{"type":"text","content":"Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.","length"...